Slide 1 9 Slide 2 Market Segmentation‚ Targeting‚ and Positioning © 2011 McGraw-Hill Ryerson Ltd. All rights reserved. Today’s Topics After reading this chapter‚ you should be able to: 1.Explain what market segmentation is and when to use it. 2.Identify the five steps involved in segmenting and targeting markets. 3.Recognize the different factors used to segment consumer and organizational (business) markets. 4.Know how to develop a market-product grid to identify a target market
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1. Trends in lodging industry in general 1.1. Sustainability In recent years‚ environment friendly‚ “going green” has affected many hotels in the way they are designed‚ built or refurbished and operated. The market of environmentally concerned consumers is growing and it is important to cater to their needs. (Kapiki‚ 2012) In addition‚ going green is seen as means of giving back to the community and environment as well as reducing operational cost. For example‚ 59% of respondents from a survey
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2 Market Segmentation Segmenting Consumer Markets Demographic segmentation divides the market into groups based on variables such as age‚ gender‚ family size‚ family life cycle‚ income‚ occupation‚ education‚ religion‚ ethnics‚ generation‚ and nationality It is the most popular segmentation method‚ because consumer needs‚ wants‚ and usage often vary closely with demographic variables‚ and they are easier to measure than other types of variables. Market Segmentation Segmenting Consumer
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Market segmentation Market segmentation is simply a modern marketing strategy in which the market for your customers are divided in various several groups and segments based on some major key factors such as demographic‚ geographic‚ psychological and behavioural factors. By dividing the market‚ the sellers that that try to deliver good value to their customers will be able to have better understanding of their target audience and thereby make their marketing more effective. Market segmentation also
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Segmentation and customer profile. Segmentation is dividing a market into a smaller groups that shared similar needs‚ wants‚ characteristics‚ and behaviours towards the goods and services. (reference). The market segmentation is a must and important to the all oraganizations. This is because each customers have different needs and wants‚ so that by segment the market‚ the organization can identify which customers that can match with their products and services. In Dell‚ the segmentation is a backbone
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Polisher is recommended to always be placed aside in original form when not in use. Once done using the polisher‚ place in a non-hazardous space preferably in a storeroom where it won’t get in the way ready for the next use. Used daily in a hospitality industry in order to polish floors. Easier and faster than using a mop. 4. (a) Cleaning chemicals need specialised storage areas. Outline TWO safe procedures to follow when storing chemicals. - Ensure chemical containers and their seals or stoppers
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Report 1. Introduction When focusing on maintaining a workforce within the tourism and hospitality industry‚ it is essential to identify the key concepts that motivate workers. Division of labour is part of every organisation; therefore the formation of groups is important in increasing work performance. It is not always easy to manage the creative and innovative aspects of team work‚ where individuals ideally need to share the values‚ characteristic and interests of the other
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6 Market Segmentation and Positioning Positioning is not what you do to a product; it is what you do to the mind of a prospect. Ries and Trout (1972) Learning outcomes After reading this chapter‚ you will be able to: ✔ Describe the principles of market segmentation and the STP process. ✔ Explain the characteristics and differences between market segmentation and product differentiation. ✔ Explain how market segmentation can be undertaken in both consumer and business-to-business
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To reach different markets or to promote your products to different locations or people one has to use a method called market segmentation. "Market segmentation describes the division of a market into homogenous groups which will respond differently to promotions‚ communications‚ advertising and other marketing mix variable" (Cumming). Market segmentation is extremely important for companies around the world. If a company doesn’t research the area in which they are going to market or they put
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Mustafa’s prestantion on Hospitality management industry. Research on industry The presenter had performed poor research is performed on the industry and no data is collected specifically for example opportunities and challenges faced by hospitality management. No analytical tools are used as well. Understanding and evaluation of industry The presenter presented the Confused/unclear description of industry. Only Description of Aromarc Company is presented rather than the industry. The presenter did
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